7.65% Cap - $100k NOI Leased Thru 2030

138 Main Street, Norway, ME 04268

  • For Sale $1,307,693
  • Property Type Retail - Freestanding
  • Property Size 16,363 SF
  • Lot Size 1 Acre
  • Additional Rent Contact for pricing
  • Property Tenancy Single Tenant
  • Date Updated Aug 16, 2024
Featuring 475' of frontage on Main street with a traffic count of 17,042+/- vehicles a day. Located inside the Norway retail corridor with major tenants such as McDonald’s, Walgreens, Dunkin, Verizon, Stephens Memorial Hospital & moreMANSARD is pleased to offer for sale 138 Main Street in Norway, Maine. This asset is 100% leased by Aubuchon Hardware who is currently paying $100,039 annual rent with attractive 2% rent increases every year. The current lease runs through December 2030, with two five-year options to extend, providing potential rent through the year 2040+/-. Aubuchon Hardware has operated onsite since 2004, providing a vital and reliable place for residents to shop. This investment opportunity is perfect for a regional investor seeking dependable passive income from a long term tenant. The tenant benefits from this strategic location with limited area competition and low operating costs; with an under market rent of just $6.11/sf.

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Highlights

  • 16,363 SF - 100% Leased by Aubuchon Hardware Since 2004
  • $100,039 NOI - Leased Thru 12/31/2030 - 2% Annual Increases
  • Two, 5 Year Options to Renew thru 2035 & 2040 w/ a High Renewal Probability
  • Limited Landlord Responsibilities Providing Headache Free Ownership
  • Strong Regional Tenant - Aubuchon Operates 119 Locations in the North East
  • Attractive Under Market Rent of $6.11/SF - Limited Area Competition

Contacts

broker

Taylor Saulnier, CCIM

MANSARD Commercial Properties

Location

Getting Around

  • Walk Score ®

    39/100 Car-Dependent

  • Bike Score ®

    19/100 Somewhat Bikeable
Powered by Walk Score ®
  • City Norway, ME
  • Zip Code 04268
  • Market Portland ME

Points of Interest

  • Gulf

    0.19 miles

  • Irving

    0.43 miles

  • Cumberland Farms

    0.52 miles

  • Citgo

    1.12 miles

  • Circle K Gas Station

    1.41 miles

  • Sunoco

    8.60 miles

  • Trail Head Parking Lot

    7.28 miles

  • Amato's

    0.21 miles

  • Dunkin'

    0.35 miles

  • Taste of Eden Vegan Cafe

    0.46 miles

  • Luchador Tacos

    0.57 miles

  • Pizza Hut

    0.72 miles

  • Mayflower Chinese Restaurnant

    0.79 miles

  • Burger King

    0.85 miles

  • Applebee's

    0.86 miles

  • Yianni's House of Pizza

    0.89 miles

  • Ocean Pearl

    0.94 miles

  • Hannaford

    0.81 miles

  • Save-A-Lot

    0.84 miles

  • Walmart Supercenter

    2.54 miles

Frequently Asked Questions

How much does 7.65% Cap - $100k NOI Leased Thru 2030 cost?

The space currently listed for sale at 7.65% Cap - $100k NOI Leased Thru 2030 asks for $1,307,693.

What is the total square footage of 7.65% Cap - $100k NOI Leased Thru 2030?

7.65% Cap - $100k NOI Leased Thru 2030 totals 16,363 square feet.

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Contact Listing Broker

broker

Taylor Saulnier, CCIM

MANSARD Commercial Properties